By Elizabeth Adegbesan
The naira on Friday depreciated to N1,425 per dollar in the parallel foreign exchange market, compared with N1,422 per dollar recorded on Thursday.
The local currency also weakened slightly at the Nigerian Foreign Exchange Market (NFEM), where it traded at N1,381.5 per dollar, according to data from the Central Bank of Nigeria (CBN).
The latest figure represents a 50 kobo depreciation from the N1,381 per dollar recorded at the official market on Thursday.
Following the movement in both markets, the gap between the parallel and official exchange rates widened to N43.5 per dollar from N41 per dollar the previous day.
